Analysis: Five Ways Trump Dimmed the Tax Bill Glow

The following article by John T. Bennett was posted on the Roll Call website January 5, 2018:

Chaos returns to White House, overshadowing legislative agenda

President Trump walks along the White House’s West Colonnade of the White House on Wednesday evening. (White House photo via Flickr)

President Donald Trump was excited, beaming behind the storied Resolute Desk three days before Christmas. He joked with reporters and offered camera operators presidential ink pens. And he boasted that, after a year with more downs than ups, he was starting to figure out how to be president.

“So, you know, it’s been a process,” he said after securing his first major legislative win by signing a GOP tax bill into law — and terminating the Obama-era health law’s individual mandate at the same time. “It’s been a great process. Really beautiful.” In the days that followed, he assured members of his Mar-a-Lago club in South Florida his administration was about to have a “great” second year.

Trump and his team were riding high. The president continued to be in high spirits on Christmas Eve, boasting about his first-year achievements and predicting more in 2018. He even tracked Santa Claus with NORAD and called children, a symbolic victory lap in his self-proclaimed win in the so-called “War on Christmas.” Continue reading “Analysis: Five Ways Trump Dimmed the Tax Bill Glow”

Sessions torched by lawmakers for marijuana move

The following article by Cristina Marcos and Jordain Carney was posted on the Hill website January 4, 2018:

Attorney General Jeff Sessions waits before speaking to federal, state and local law enforcement officials about sanctuary cities and efforts to combat violent crime on July 12 in Las Vegas. (John Locher/AP)

Attorney General Jeff Sessions is facing a barrage of criticism from both parties for ending a policy that gave states the flexibility to allow sales of recreational marijuana.

Republicans, primarily from states that have legalized marijuana, joined Democrats in slamming the decision and vowing to take action to pressure Sessions to reverse course.

Sen. Cory Gardner (R-Colo.) took to the Senate floor to assert that Sessions had told him before his confirmation as attorney general that he didn’t plan to try to reverse his state’s policies legalizing marijuana.

“I would like to know from the attorney general what has changed,” Gardner said. “What has changed the president’s mind? Why is Donald Trump thinking differently than what he promised the people of Colorado?” Continue reading “Sessions torched by lawmakers for marijuana move”

How closely did the tax bill resemble Trump’s campaign promises?

The following article by Louis Jacobson was posted on the Politifact website January 2, 2018:

President Donald Trump discusses Congress’ final approval of the tax bill. (Carolyn Kaster / Associated Press)

The tax bill that President Donald Trump signed into law on Dec. 22, 2017, was a large and consequential piece of legislation. It was also the culmination of no fewer than nine of Trump’s campaign promises. So how did he do?

Upon review of the bill’s provisions, we found only one pure Promise Kept in the bill, compared to four we rated Promise Broken. But he made significant, if imperfect, progress on four other promises, and we’ve rated these Compromise. Continue reading “How closely did the tax bill resemble Trump’s campaign promises?”

Companies Are Handing Out Bonuses Thanks to the Tax Law. Is It a Publicity Stunt?

The following article by Landon Thomas, Jr. was posted on the New York Times website January 3, 2018:

AT&T was among the first companies to announce it would use some of its tax savings for employee bonuses.CreditBrandon Thibodeaux for The New York Times

The big corporate tax break that became law last month is great news for companies and their investors. But what about employees? How much of the corporate tax windfall will go to workers via higher wages?

Since President Trump signed the $1.5 trillion tax cut into law on Dec. 22, nearly 20 large companies have announced some form of bonus or wage hike for their employees. Will they make a difference? Or are they merely publicity stunts?

“This is not a P.R. stunt,” said Teresa Tanner, who oversees marketing and human resources at Fifth Third Bank, a regional lender in the Midwest that is raising its minimum wage and giving some employees a $1,000 bonus. “The tax cut will be an ongoing benefit for us and we wanted to share this with our employees. It is the right thing to do.” Continue reading “Companies Are Handing Out Bonuses Thanks to the Tax Law. Is It a Publicity Stunt?”

Republicans passed their tax bill. Now they’re spending $10 million to promote it.

The following article by Mike DeBonis was posted on the Washington Post website January 3, 2018:

A nonprofit group with ties to Republican congressional leaders is broadcasting TV ads to promote the GOP tax bill and those who voted for it. (American Action Network)

Two weeks ago, Republicans passed their massive rewrite of the federal tax code. Now a GOP group is spending millions to convince voters they will benefit from it.

The American Action Network, a nonprofit group with close ties to Republican congressional leaders, is launching a $2 million round of TV ads promoting the tax bill Wednesday, the first salvo in a $10 million campaign to give key House Republicans a boost going into November’s midterm elections.

The ads, running in 23 districts, feature a couple sitting on their couch extolling the benefits of the bill — “will save a typical family more than $2,000”; “helps create jobs and boost middle-class income” — and thanking the local lawmakers for their votes.

So far, the public is not sold. Several public polls released last month, including surveys from CNN and the Wall Street Journal/NBC News show that pluralities of Americans oppose the GOP tax bill, citing its benefits for corporations and the wealthy. Many Americans, the polls show, believe they will see a tax hike under the bill — not a tax cut.

The centerpiece of the $1.5 trillion bill is a dramatic cut in the corporate tax rate from 35 percent to 21 percent. Many business owners, meanwhile, will be entitled to a new 20 percent deduction on their business income, and wealthy Americans will see more of their assets sheltered from the federal estate tax. Wage earners see comparatively scant benefits — a larger standard deduction and child tax credit, as well as modestly lower income-tax rates, all of which will expire after 2025.

Democrats have been eagerly pointing to the outsize benefits for corporations and top earners, but Republican leaders believe that the public will warm to the bill once they see the benefits. For instance, employers are expected to start withholding less income tax from employee paychecks starting in February. “If we can’t sell this to the American people we ought to go into another line of work,” Senate Majority Leader Mitch McConnell (R-Ky.) said after the Senate vote.

Republicans are forging ahead with their promise to overhaul the tax code, even with very little public support for their proposal. (Video: Jenny Starrs/Photo: Jabin Botsford/The Washington Post)

ut sell it they must, said Corry Bliss, who runs the American Action Network and its affiliated super PAC, the Congressional Leadership Fund. Amid major head winds for Republican candidates this year, his theory for doing so is simple: Lawmakers must make the case to voters that they have made a difference in everyday lives, and “grand economic theory” about boosting economic growth won’t get it done.

“It has to be connected to the individual,” he said Tuesday. “People care about themselves and their family, and they will reward people who are looking out for them and they will punish people who are not looking out for them.” Continue reading “Republicans passed their tax bill. Now they’re spending $10 million to promote it.”

The sexual harassment vote the GOP would like to forget

The following article by Ian Kullgren was posted on the Politico website January 2, 2018:

Republicans may vote on a bill that reverses action they took last year.

With the #MeToo movement in full swing, Congress is now preparing a bipartisan sexual harassment bill that would eliminate mandatory arbitration in sexual harassment cases — not just for large federal contractors but for all businesses.

Not long before a deluge of sexual harassment claims engulfed Capitol Hill, congressional Republicans and President Donald Trump quietly repealed safeguards to protect hundreds of thousands of American workers from such harassment.

Their target was an August 2016 regulation issued by the Obama Labor Department that required businesses to disclose certain labor violations — including sexual harassment — whenever they bid on large federal contracts. Continue reading “The sexual harassment vote the GOP would like to forget”

James Comey Expresses Hope For ‘More Ethical Leadership’ In 2018

The following article by Mary Papenfuss was posted on the Huffington Post website January 1, 2018:

The former FBI director tweeted that he’d like to see a focus on “the truth and lasting values” in the new year.

In what appears to be a not-so-subtle dig at President Donald Trump, ousted FBI Director James Comey tweeted Sunday that he hoped the new year would bring “more ethical leadership focused on the truth and lasting values.”

Here’s hoping 2018 brings more ethical leadership, focused on the truth and lasting values. Happy New Year, everybody.

As U.S. budget fight looms, Republicans flip their fiscal script

The following article by the Reuters Staff was posted on their website December 31, 2017:

WASHINGTON (Reuters) – The head of a conservative Republican faction in the U.S. Congress, who voted this month for a huge expansion of the national debt to pay for tax cuts, called himself a “fiscal conservative” on Sunday and urged budget restraint in 2018.

In keeping with a sharp pivot under way among Republicans, U.S. Representative Mark Meadows, speaking on CBS’ “Face the Nation,” drew a hard line on federal spending, which lawmakers are bracing to do battle over in January. Continue reading “As U.S. budget fight looms, Republicans flip their fiscal script”

New tax law expected to slow rise of home values, creating winners and losers

The following article by Kathy Orton and Aaron Greg was posted on the Washington Post website December 29, 2017:

Credit: kconnors via morguefile.com

The steady increase in housing prices in many of the nation’s priciest markets, including the Washington region, is expected to slow in coming years, analysts say, as the Republican tax law begins to reshape a major part of the U.S. economy.

For generations, the tax code has subsidized homeownership, particularly for people in the ­upper middle class and beyond. The Republican tax legislation, however, pushed in the opposite direction, scaling back subsidies once thought untouchable. Continue reading “New tax law expected to slow rise of home values, creating winners and losers”

5 lessons from a Republican year of governing dangerously

The following article by Sarah Bender and Mark Spindel was posted on the Washington Post website December 28, 2017:

Credit: Chip Somodevilla/Getty Images

The Republican Congress ended its first year on a partisan high note by overhauling the tax code and undercutting the Affordable Care Act, setting up a trillion increase in the deficit in the process. Before the finale, the 115th Congress was buoyed by a strong economy, yet gridlocked by slim majorities, internal division and an erratic president. Over the course of the year, Republicans narrowed their agenda, abandoned fiscal orthodoxy, bent the rules, and kicked tough problems to next year and beyond.

Here are five takeaways from year one of all-Republican rule: Continue reading “5 lessons from a Republican year of governing dangerously”